Coal India looking to buy metal mines abroad
Coal India plans to form two units: one to manage its local mining of iron ore, bauxite and manganese, and another to expand into copper and nickel mining overseas30-09-2017
30-09-2017
Coal India mulls entering minerals mining
World's largest coal miner Coal India is considering a proposal to diversify into mining of minerals like bauxite and iron ore as the company seeks to reduce dependence on mining of the dry fuel, an...29-09-2017
Coal India slips ahead of INTUC strike on Oct 6
The scrip touched its fresh 52-week high of Rs 337.30 on November 10, 2016 and its 52-week low of Rs 234 on August 11,2017.27-09-2017
Coal India (CIL) continues to dive on penalty fears
Mahanadi Coalfields, a Coal India arm, is staring at a Rs. 22,000 crore penalty in the face after the Supreme Court said that all mineral production carried out in violation of environmental laws is illegal. The Court has ordered the Odisha government to recover the value of all minerals produced illegally, or in excess of caps under environment, forest laws, pollution control rules and mining plans. Overproduction by Mahanadi Coalfields in Odisha is the cause for the penalty. The share price for CIL has been falling since the news. Issues of overproduction, pollution and quality of coal have been plaguing Coal India over the last several months. The company's coal on average, contains 45% ash, far in excess of the 25-30% that is ideal for efficiently burning fuel in thermal power stations. CIL has largely failed to invest in coal washing and similar techniques needed for cleaner coal burning. The total compensation to be forked out by mining companies including Tata Steel and GMR in Odisha could well go beyond Rs 50,000 crore according to estimates. Tata Steel's chromite mining in Odisha also attracted popular anger, due to the pollution in the region, and Odisha's Sukinda valley was in the past identified as the fourth most polluted place in the world due to contamination of its soil and water from chromite mining.20-09-2017
CIL drops as arm may face Rs 20,000 crore penalty
Following the development, the stock fell 3.27 per cent to hit a low of Rs 258.5 on BSE.19-09-2017
CIL asks pithead plants to use road network to increase rake availability
After coal shortage in power generation has staged a comeback with four of them entering the critical and another 12 entering the super critical category in mid-September, Coal India has devised a plan to address the shortage problem asking short distance power plants to use the road ferrying network so that railway rakes can be made available for the thermal generating stations at longer distances.A Coal India official said that to free up railway rakes for longer distance plants, generating stations located within 60 kms from the pitheads (pithead plants) can lift coal as much as they wish (as per the fuel supply agreement) and transport it via trucks which will be cost effective."Usually railway freight costs are higher for short distance while it is cheaper for long distances. Previously, there was a mix between railway and road transport for ferrying coal to plants which are short distance. Now, road transport will be given priority", a company official said.Typically, each...18-09-2017
Coal India in reversal mode
The stock has been trending up over the last two weeks, with good volumes17-09-2017
Coal India upbeat over metals mining venture, wants to go it alone
---Drop the pointer table ---Coal India's decision to reposition itself as a holistic energy entity and harness its strength in mining by diversifying into metals will place the government-owned major in a league with global miners like Glencore, Rio Tinto, BHP, Vale and others.A consultant has been hired to do a study on how the company can modernise and adapt to current trends.The metals mining move will also help it hedge against the impact of renewable energy. As India, in line with other countries, moves towards 'clean' and renewable energy, the dependence on thermal power would decline. This means less demand for coal. Coal India itself estimates the share of coal in commercial energy supply would go from 55 per cent in 2015-16 to 48-54 per cent by 2040. "Hence, it is natural for a company solely dependent on coal sales to branch out and diversify into mining of other metals, where demand is likely to remain stable," says Partha Bhattacharyya, past chairman of Coal India.Around .15-09-2017